Cochin Shipyard Ltd

Cochin Shipyard Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

Cochin Shipyard Ltd

₹ 2,287 1.17%
03 Jul 11:18 a.m.
cochinshipyard.com BSE: 540678 NSE: COCHINSHIP
About

Incorporated in the year 1972, Cochin Shipyard Limited(CSL) is a leading player in construction of all kinds of vessels, repairs and refits of all types of vessels including periodic upgradation and life extension of ships.
CSL has built & repaired some of the largest ships for its esteemed customers across the globe. It has exported some 45 ships to various clients outside India.
It has developed its expertise from building bulk carriers to smaller ships and ships which are more advanced in terms of technology such as Platform Supply vessels, Anchor Handling Tug Supply Vessels. [1]

Key Points

Company Overview
Cochin Shipyard is into shipbuilding (Defence, Commercial & Offshore), Ship repair, Marine Engineering Training and Strategic & Advanced Solutions. It has built and delivered 21 large vessels, 35 offshore support vessels, 93 small & medium vessels and 31 defence vessels as of FY23. [1]

Website BSE NSE
  • Market Cap ₹ 60,167 Cr.
  • Current Price ₹ 2,287
  • High / Low ₹ 2,428 / 278
  • Stock P/E 76.8
  • Book Value ₹ 190
  • Dividend Yield 0.38 %
  • ROCE 21.0 %
  • ROE 16.6 %
  • Face Value ₹ 5.00
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Pros

  • Company is expected to give good quarter
  • Debtor days have improved from 45.4 to 33.9 days.

Cons

  • Stock is trading at 12.1 times its book value
  • The company has delivered a poor sales growth of 5.25% over past five years.
  • Company has a low return on equity of 12.1% over last 3 years.
  • Earnings include an other income of Rs.310 Cr.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Sector: Aerospace & Defence Industry: Miscellaneous

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024
1,080 329 696 953 1,212 441 683 642 600 476 1,012 1,056 1,286
823 308 532 812 916 409 548 493 667 397 821 746 998
Operating Profit 258 21 164 141 296 32 135 148 -67 79 191 310 288
OPM % 24% 6% 24% 15% 24% 7% 20% 23% -11% 17% 19% 29% 22%
81 48 42 63 107 56 62 23 133 84 89 58 80
Interest 17 12 12 12 12 12 12 12 -1 9 10 8 7
Depreciation 17 17 17 18 18 19 20 19 11 17 19 20 19
Profit before tax 304 40 177 175 374 56 165 140 57 137 251 340 342
Tax % 22% 28% 26% 26% 27% 25% 32% 21% 30% 28% 28% 28% 24%
236 29 131 129 275 42 113 110 39 99 182 244 259
EPS in Rs 8.98 1.09 4.99 4.92 10.44 1.60 4.29 4.20 1.50 3.75 6.90 9.29 9.84
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Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
2,355 2,966 3,422 2,819 3,191 2,365 3,830
1,891 2,394 2,711 2,096 2,564 2,103 2,962
Operating Profit 465 571 711 723 627 262 869
OPM % 20% 19% 21% 26% 20% 11% 23%
189 226 245 203 260 269 310
Interest 12 15 50 58 53 43 33
Depreciation 38 34 49 60 68 69 75
Profit before tax 604 748 858 808 766 418 1,071
Tax % 34% 36% 26% 25% 26% 27% 27%
396 478 632 609 564 305 783
EPS in Rs 14.58 18.17 24.02 23.13 21.44 11.58 29.77
Dividend Payout % 41% 36% 35% 34% 39% 43% 0%
Compounded Sales Growth
10 Years: %
5 Years: 5%
3 Years: 11%
TTM: 62%
Compounded Profit Growth
10 Years: %
5 Years: 11%
3 Years: 9%
TTM: 202%
Stock Price CAGR
10 Years: %
5 Years: 64%
3 Years: 126%
1 Year: 708%
Return on Equity
10 Years: %
5 Years: 14%
3 Years: 12%
Last Year: 17%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Equity Capital 136 132 132 132 132 132 132
Reserves 3,120 3,197 3,591 3,902 4,262 4,296 4,872
123 123 123 540 554 587 502
2,109 1,799 2,565 2,976 3,467 5,006 6,568
Total Liabilities 5,487 5,251 6,411 7,549 8,414 10,021 12,074
349 376 764 867 970 953 968
CWIP 121 342 799 1,176 1,264 1,619 2,195
Investments 0 0 0 0 0 0 0
5,017 4,532 4,848 5,506 6,180 7,449 8,910
Total Assets 5,487 5,251 6,411 7,549 8,414 10,021 12,074

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
631 -451 253 710 1,398 1,889 -172
-1,312 1,074 -97 -443 -1,007 -35 1,056
812 -409 -309 -405 -239 -276 -371
Net Cash Flow 131 214 -154 -138 152 1,578 513

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Debtor Days 90 48 31 46 50 52 34
Inventory Days 98 70 65 139 67 122 216
Days Payable 83 84 85 130 38 71 104
Cash Conversion Cycle 104 34 10 54 79 103 145
Working Capital Days -114 -27 9 -5 -92 -399 -164
ROCE % 22% 25% 20% 17% 8%

Shareholding Pattern

Numbers in percentages

8 Recently
Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
72.86% 72.86% 72.86% 72.86% 72.86% 72.86% 72.86% 72.86% 72.86% 72.86% 72.86% 72.86%
3.02% 3.09% 3.10% 2.73% 2.75% 3.68% 6.87% 6.28% 5.73% 5.82% 4.11% 5.23%
5.94% 4.54% 4.11% 4.29% 4.37% 4.96% 3.87% 3.78% 3.21% 2.24% 2.20% 2.45%
18.18% 19.50% 19.93% 20.12% 20.02% 18.48% 16.39% 17.07% 18.19% 19.07% 20.84% 19.47%
No. of Shareholders 1,64,2991,67,7751,67,8101,71,0901,70,1001,64,5041,69,2571,69,2641,80,9792,66,4372,92,2123,96,327

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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